Forbes November 27, 2024
Patrick Smith, President of Drug Development Solutions, Certara.
Inflation and the Covid-19 pandemic have put pharmaceutical productivity front and center in recent years. Thus, drug companies are under mounting pressure to prove that new treatments are safe and effective and deliver R&D ROI.
It’s a terrible outcome when a drug fails to receive regulatory approval in later phases of clinical development. This represents a huge amount of sunk costs for pharmaceutical companies. However, it’s even worse when a drug is a regulatory success but a commercial failure, adding in even more sunk costs that will not be recovered. This may happen due to insufficient data on market demand and unrealistic drug pricing.
Biopharma companies can reduce the risk of failures...
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